The price of gold in the local market fell by Rs1,800 per tola on Thursday, according to data from the All Sindh Saraf Jewellers Association. The new rate for gold in the local market is Rs218,200 per tola, a decrease that also affected the 10-gram gold price which now stands at Rs187,071 after a decrease of Rs1,543. In the international market, gold rates decreased by $15 to $2,067 per ounce.
In addition to the drop in gold prices, silver rates also saw a decrease, falling by Rs20 to Rs2,660 per tola. The price of 10-gram silver also dropped by Rs17.14 to Rs2,280.52.
Insight: The decrease in gold and silver prices may be attributed to various factors, including shifts in global economic conditions, changes in demand and supply dynamics, and fluctuations in currency exchange rates. Investors and consumers alike may monitor these price changes to make informed decisions about buying and selling precious metals. Additionally, this can also impact industries reliant on these metals, such as jewelry and electronics manufacturing, as lower prices can present both opportunities and challenges for businesses in these sectors.
